Well and truly plugged-in

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01 October 2002

Domestic banks and their global counterparts must offer e-trade services as a matter of course in Asia, and there is some scope for gearing systems to their respective target markets. But competitive edge really derives from the ability to integrate and upgrade at a rate of knots. Dominic Jones examines the scene.

As competition in the Asian trade services market becomes ever more intense, finance institutions are turning increasingly to technology to give themselves a competitive edge. While local banks often lag behind their global cousins in technological sophistication in some parts of the world, this is less the case in Asia with its highly skilled IT workforce and demanding, technology-driven customer base.
It is remarkable how in-step many of the banks are (local and multinational, big and small) in the timing of their B2B trade services roll-out across Asia. Standard Chartered's new B2B system, known as B2BeX, is currently in pilot mode, although a number of customers are already using the system says Jon Richman, Standard Chartered's business head, B2BeX in Hong Kong. This new browser-based supply chain solution is due to be launched from Hong Kong at the end of this year.

At the same time, HSBC, Deutsche Bank...

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